Where you can still buy beachfront on the Gold Coast without winning Lotto

Property prices on the Gold Coast have been the best performing of anywhere in Queensland recently, but there are still a couple of pockets where you can snag a bargain near the beach.

New data from the Domain Group shows house prices on the glitter strip rose an impressive 6.4 per cent over the December 2017 quarter to a new median of $619,000.

And a new REIQ report released on Monday revealed the annual median house price had risen by 7.7 per cent, describing it as a “gold medal performance” from the Gold Coast.

The Gold Coast property market has been rising at a fast rate but there are still suburbs that have a lot of value, according to Andrew Henderson. Photo: Remco Jansen

Prices in suburbs such as Burleigh Heads rose a whopping 18.3 per cent last year and in Palm Beach, by 16.3 per cent. In Mermaid Beach, the median house price has hit $1.4 million.

But REIQ zone chairman Andrew Henderson says there are still a couple of suburbs he deems “relatively undiscovered”, where prices haven’t yet taken off.

At the southern end of the Gold Coast, nestled quietly between Currumbin and Coolangatta, are Tugun and Bilinga. Pristine, peaceful beaches are dotted with older low-rise unit buildings, original fibro shacks and some new palatial housing.

Property at Burleigh Heads rose by a whopping 18.3 per cent last year. Photo: supplied

These are the Gold Coast’s best value beachfront suburbs, Mr Henderson says.

“On the Esplanade, you can still get an actual house for $2 million opposite the beach,” he says. “If you look at something equivalent at Mermaid Beach, you’d be looking at at least $5 million.

“Areas of Tugun and Bilinga are ready for strong growth.”

The success of nearby Currumbin is spreading further south to Tugun and Bilinga,agent John Rankin says. Photo: Google Maps

Mr Henderson says while the Coolangatta airport may have previously put people off, it’s now seen as an asset for people buying into the area.

“The airport may have put people off previously but now it’s mainly seen as something that’s convenient,” he says.

“If you’re looking east of the M1 and you want value, these suburbs have got both.”

Properties like Pacific Palm Beach have been popular with buyers in the $1.5 million to $3 million range. Photo: Supplied

While the median house price in Bilinga is $620,000, in the past 12 months it’s grown by only 2 per cent, Price Finder records show.

Tugun’s median house price is only slightly higher at $625,000 but in the past 12 months it’s grown by 7.8 per cent.

“Right now, we don’t have $4 million to $5 million houses here but that will change,” he says.

“I’ve got a dozen listings at the moment around $2 million, some even $3 million but the majority of what we sell is in the $400,000 to $700,000s,” he says.

“Stock is the challenge at the moment as it’s sold as soon as it comes on the market, or often before that. In Tugun and Bilinga, you could be in a side street, still have an aspect of the ocean and pay around $400,000, maybe even less.

“I think the secret’s out. Buyers now know about the southern end and the hype around Burleigh and Palm Beach is now spreading to this area.

“I say to people, when you pull out of the airport, don’t turn left, turn right.”

Mr Henderson named Ashmore, at the northern end of the Gold Coast behind Southport, as another suburb with plenty of value.

“Ashmore has bigger blocks of land, lots of great schools and good access whether you’re going north, south, east or west,” he says.

“Going forward, getting 700 or 800 square metre blocks of land will be so hard, so just that alone cannot be overlooked.”